$500 Confederate States of America Bond - Criswell-121 - 1863 dated American Civil War Bond
Inv# CF1148 Bond
$500 Confederate Bond. CR-121. 7 coupons remain. Printed on pink paper!
The American Civil War commenced in April 1861 when South Carolina’s militia assailed Fort Sumter. Subsequently, four slave states of the Upper South—Virginia, Arkansas, Tennessee, and North Carolina—seceded and joined the Confederate States of America. In February 1862, Confederate States Army leaders established a centralized federal government in Richmond, Virginia, and enacted the inaugural Confederate draft on April 16, 1862. By 1865, the Confederacy’s federal government descended into chaos, and the Confederate States Congress adjourned, effectively ceasing to function as a legislative body on March 18. Following four years of protracted combat, the majority of Confederate land and naval forces either surrendered or ceased hostilities by May 1865. The most consequential capitulation was Confederate general Robert E. Lee’s surrender on April 9, which effectively dispelled any lingering doubts regarding the war’s outcome or the Confederacy’s survival.
A bond is a document of title for a loan. Bonds are issued, not only by businesses, but also by national, state or city governments, or other public bodies, or sometimes by individuals. Bonds are a loan to the company or other body. They are normally repayable within a stated period of time. Bonds earn interest at a fixed rate, which must usually be paid by the undertaking regardless of its financial results. A bondholder is a creditor of the undertaking.
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